Crypto Firms Beware: No Free Ride Under New Administration, Says CFTC Acting Chair

Caroline Pham Slams the Brakes on Crypto's Hopes for Lax Regulation

Hold onto your hats, crypto enthusiasts! Caroline Pham, the powerhouse acting chair of the Commodity Futures Trading Commission (CFTC), isn't mincing words. She's making it crystal clear that crypto firms can't expect a free pass on regulation just because there's a new sheriff in town.

At the sizzling Coinbase Annual Summit, Pham dropped the hammer in an interview with Yahoo Finance. She warned that Donald Trump's love for crypto doesn't give companies a green light to ignore the rules or operate like wild cowboys outside the law.

"Listen up, there's no easy street for anybody, and regulators? We're not easy!" Pham declared with fire in her eyes. "Just because we're all about innovation and growth doesn't mean you can get away with breaking the law."

But don't think for a second that the CFTC is out to unfairly target the crypto sector like some kind of regulatory hit squad. Pham made it clear that the focus will be on fair and firm enforcement, tackling the real bad guys—fraud and misconduct head-on.

She didn't hold back on her critique of the Biden era either. Echoing the industry's battle cries, Pham slammed regulators for bending the rules to go after crypto in ways the law never intended. She called it a move that's been undermining trust in the U.S. system left and right.

"Enough with the fear-based policymaking driven by wrong perceptions that the industry is 'evil'," she thundered. "It's time to restore some damn regulatory clarity."

Pham's bold statements come as U.S. crypto regulation is gearing up for a wild ride, especially with Paul Atkins stepping into the ring as the new Chairman of the Securities and Exchange Commission (SEC). Seen as a crypto-friendly champ, Atkins is set to help Trump make good on his promises to the sector and kick those long-standing regulatory roadblocks to the curb.

Just this month, the regulatory chief doubled down on his mission to bring some much-needed clarity to the crypto industry.

"Mark my words, a key priority of my Chairmanship will be to develop a rational regulatory framework for crypto asset markets. We're talking clear rules of the road for the issuance, custody, and trading of crypto assets," he proclaimed.